German firms to scale back investment in UK over Brexit - DIHK association

Reuters Staff

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BERLIN, Jan 17 (Reuters) - Prime Minister Theresa May’s announcement that Britain will leave the EU’s single market provides clarity and means German firms will start scaling back investment in the UK, Germany’s Chamber of Commerce and Industry (DIHK) said on Tuesday.

“There now will be less investment from German companies in Britain,” Volker Treier, head of the DIHK’s trade division, told Reuters.

He added that a hard Brexit would lower growth prospect on both sides of the British Channel and that Britain would probably become less important for Germany as export destination. (Reporting by Gernot Heller; writing by Michael Nienaber, editing by Erik Kirschbaum)